CEOs rake it in while their corporations dodge taxes.
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11:51 am, September 3rd, 2011 - 14 comments
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Guns don’t kill people, the old saw goes. People do. By the same token, corporations don’t dodge taxes. People do. The people who run corporations. And these people — America’s CEOs — are reaping awesomely lavish rewards for the tax dodging they have their corporations do. A report from the U. S. Institute of Policy Studies shows that 25 major U.S. corporations last year paid their chief executives more than they paid Uncle Sam in federal income taxes.
Some of the corporations have raised questions about the methodology used by the Institute. The Institute’s response is here. Interestingly, one of the issues raised by the corporations is that the tax results are the results of “accounting adjustments and settlements.” In rebutting this, the Institute argues that clearer corporate tax reporting is in the interest of all.
The need for clearer corporate reporting in New Zealand has also been raised today by Brian Gaynor in a Herald article titled “Changing the scores unfair to investors” .
Gaynor says:
Company directors are beginning to look like golfers who go around in 85 but put a 76 on their card because that is what they normally shoot.
and:
There can also be serious conflicts of interests if senior executives are paid on the basis of normalised, rather than audited profits. There is clearly a strong incentive for executives to focus on the higher normalised profits if their bonuses are based on these figures.
Nine of the 19 companies had normalised earnings higher than their audited figures.
Telecom reported normalised profits of $388 million, 133.7 per cent higher than the audited figures of $166 million.
That might explain Reynolds’ pay.
Also in an article in today’s Guardian discloses that the previous year’s report indicated that some of the best paid CEOs are the ones that lay off the most workers. The authors calculated that the CEOs of the 50 companies that laid off the most workers since the onset of the economic crisis took home 42% more pay in 2009 than their peers on the Standard & Poor’s 500 index.
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- Release: Progress on climate will be undone by GovtNew Zealand’s good work at reducing climate emissions for three years in a row will be undone by the National government’s lack of ambition and scrapping programmes that were making a difference, Labour Party climate spokesperson Megan Woods said today. ...2 weeks ago
- Release: Dark day for Kiwi kids as a third of Govt cuts affect themNews that 1000 jobs at the Ministry of Education and Oranga Tamariki could go is devastating for future generations of New Zealanders. ...3 weeks ago
- Release: Alarm as Government signals further blow to school lunchesMore essential jobs could be on the chopping block, this time Ministry of Education staff on the school lunches team are set to find out whether they're in line to lose their jobs. ...3 weeks ago
- Oranga Tamariki cuts commit tamariki to state abuseTe Pāti Māori is disgusted at the confirmation that hundreds are set to lose their jobs at Oranga Tamariki, and the disestablishment of the Treaty Response Unit. “This act of absolute carelessness and out of touch decision making is committing tamariki to state abuse.” Said Te Pāti Māori Oranga Tamariki ...3 weeks ago
- Release: Quick, submit – stop Govt’s dodgy approvals billThe Government is trying to bring in a law that will allow Ministers to cut corners and kill off native species, Labour environment spokesperson Rachel Brooking said. ...3 weeks ago
- Government throws coal on the climate crisis fireThe Government’s policy announced today to ease consenting for coal mining will have a lasting impact across generations. ...3 weeks ago
- Agreement delivers Local Water Done Well for Auckland
The Government has delivered on its election promise to provide a financially sustainable model for Auckland under its Local Water Done Well plan. The plan, which has been unanimously endorsed by Auckland Council’s Governing Body, will see Aucklanders avoid the previously projected 25.8 per cent water rates increases while retaining ...23 hours ago - Gaza and the Pacific on the agenda with GermanyForeign Minister Winston Peters discussed the need for an immediate ceasefire in Gaza, and enhanced cooperation in the Pacific with German Foreign Minister Annalena Baerbock during her first official visit to New Zealand today. "New Zealand and Germany enjoy shared interests and values, including the rule of law, democracy, respect for the international system ...2 days ago
- Decision allows for housing growth in Western Bay of PlentyThe Minister Responsible for RMA Reform, Chris Bishop today released his decision on four recommendations referred to him by the Western Bay of Plenty District Council, opening the door to housing growth in the area. The Council’s Plan Change 92 allows more homes to be built in existing and new ...3 days ago
- Speech to New Zealand China CouncilThank you, John McKinnon and the New Zealand China Council for the invitation to speak to you today. Thank you too, all members of the China Council. Your effort has played an essential role in helping to build, shape, and grow a balanced and resilient relationship between our two ...3 days ago
- Modern insurance law will protect Kiwi householdsThe Government is modernising insurance law to better protect Kiwis and provide security in the event of a disaster, Commerce and Consumer Affairs Minister Andrew Bayly announced today. “These reforms are long overdue. New Zealand’s insurance law is complicated and dated, some of which is more than 100 years old. ...4 days ago
- Government recommits to equal payThe coalition Government is refreshing its approach to supporting pay equity claims as time-limited funding for the Pay Equity Taskforce comes to an end, Public Service Minister Nicola Willis says. “Three years ago, the then-government introduced changes to the Equal Pay Act to support pay equity bargaining. The changes were ...4 days ago
- Transforming how our children learn to readStructured literacy will change the way New Zealand children learn to read - improving achievement and setting students up for success, Education Minister Erica Stanford says. “Being able to read and write is a fundamental life skill that too many young people are missing out on. Recent data shows that ...4 days ago
- NZ not backing down in Canada dairy disputeTrade Minister Todd McClay says Canada’s refusal to comply in full with a CPTPP trade dispute ruling in our favour over dairy trade is cynical and New Zealand has no intention of backing down. Mr McClay said he has asked for urgent legal advice in respect of our ‘next move’ ...4 days ago
- Stronger oversight for our most vulnerable childrenThe rights of our children and young people will be enhanced by changes the coalition Government will make to strengthen oversight of the Oranga Tamariki system, including restoring a single Children’s Commissioner. “The Government is committed to delivering better public services that care for our most at-risk young people and ...4 days ago
- Streamlining Building Consent ChangesThe Government is making it easier for minor changes to be made to a building consent so building a home is easier and more affordable, Building and Construction Minister Chris Penk says. “The coalition Government is focused on making it easier and cheaper to build homes so we can ...4 days ago
- Minister acknowledges passing of Sir Robert Martin (KNZM)New Zealand lost a true legend when internationally renowned disability advocate Sir Robert Martin (KNZM) passed away at his home in Whanganui last night, Disabilities Issues Minister Louise Upston says. “Our Government’s thoughts are with his wife Lynda, family and community, those he has worked with, the disability community in ...5 days ago
- Speech to New Zealand Institute of International Affairs, Parliament – Annual Lecture: Challenges ...Good evening – Before discussing the challenges and opportunities facing New Zealand’s foreign policy, we’d like to first acknowledge the New Zealand Institute of International Affairs. You have contributed to debates about New Zealand foreign policy over a long period of time, and we thank you for hosting us. ...5 days ago
- Accelerating airport security linesFrom today, passengers travelling internationally from Auckland Airport will be able to keep laptops and liquids in their carry-on bags for security screening thanks to new technology, Transport Minister Simeon Brown says. “Creating a more efficient and seamless travel experience is important for holidaymakers and businesses, enabling faster movement through ...5 days ago
- Community hui to talk about kina barrensPeople with an interest in the health of Northland’s marine ecosystems are invited to a public meeting to discuss how to deal with kina barrens, Oceans and Fisheries Minister Shane Jones says. Mr Jones will lead the discussion, which will take place on Friday, 10 May, at Awanui Hotel in ...5 days ago
- Kiwi exporters win as NZ-EU FTA enters into forceKiwi exporters are $100 million better off today with the NZ EU FTA entering into force says Trade Minister Todd McClay. “This is all part of our plan to grow the economy. New Zealand's prosperity depends on international trade, making up 60 per cent of the country’s total economic activity. ...5 days ago
- Mining resurgence a welcome signThere are heartening signs that the extractive sector is once again becoming an attractive prospect for investors and a source of economic prosperity for New Zealand, Resources Minister Shane Jones says. “The beginnings of a resurgence in extractive industries are apparent in media reports of the sector in the past ...5 days ago
- Ō-Rākau Remembrance Bill passes first readingThe return of the historic Ō-Rākau battle site to the descendants of those who fought there moved one step closer today with the first reading of Te Pire mō Ō-Rākau, Te Pae o Maumahara / The Ō-Rākau Remembrance Bill. The Bill will entrust the 9.7-hectare battle site, five kilometres west ...6 days ago
- Government to boost public EV charging networkEnergy Minister Simeon Brown has announced 25 new high-speed EV charging hubs along key routes between major urban centres and outlined the Government’s plan to supercharge New Zealand’s EV infrastructure. The hubs will each have several chargers and be capable of charging at least four – and up to 10 ...6 days ago
- Residential Property Managers Bill to not progressThe coalition Government will not proceed with the previous Government’s plans to regulate residential property managers, Housing Minister Chris Bishop says. “I have written to the Chairperson of the Social Services and Community Committee to inform him that the Government does not intend to support the Residential Property Managers Bill ...6 days ago
- Independent review into disability support servicesThe Government has announced an independent review into the disability support system funded by the Ministry of Disabled People – Whaikaha. Disability Issues Minister Louise Upston says the review will look at what can be done to strengthen the long-term sustainability of Disability Support Services to provide disabled people and ...6 days ago
- Justice Minister updates UN on law & order planJustice Minister Paul Goldsmith has attended the Universal Periodic Review in Geneva and outlined the Government’s plan to restore law and order. “Speaking to the United Nations Human Rights Council provided us with an opportunity to present New Zealand’s human rights progress, priorities, and challenges, while responding to issues and ...6 days ago
- Ending emergency housing motels in RotoruaThe Government and Rotorua Lakes Council are committed to working closely together to end the use of contracted emergency housing motels in Rotorua. Associate Minister of Housing (Social Housing) Tama Potaka says the Government remains committed to ending the long-term use of contracted emergency housing motels in Rotorua by the ...6 days ago
- Trade Minister travels to Riyadh, OECD, and DubaiTrade Minister Todd McClay heads overseas today for high-level trade talks in the Gulf region, and a key OECD meeting in Paris. Mr McClay will travel to Riyadh to meet with counterparts from Saudi Arabia and the Gulf Cooperation Council (GCC). “New Zealand’s goods and services exports to the Gulf region ...7 days ago
- Education priorities focused on lifting achievementEducation Minister Erica Stanford has outlined six education priorities to deliver a world-leading education system that sets Kiwi kids up for future success. “I’m putting ambition, achievement and outcomes at the heart of our education system. I want every child to be inspired and engaged in their learning so they ...7 days ago
- NZTA App first step towards digital driver licenceThe new NZ Transport Agency (NZTA) App is a secure ‘one stop shop’ to provide the services drivers need, Transport Minister Simeon Brown and Digitising Government Minister Judith Collins say. “The NZTA App will enable an easier way for Kiwis to pay for Vehicle Registration and Road User Charges (RUC). ...7 days ago
- Supporting whānau out of emergency housingWhānau with tamariki growing up in emergency housing motels will be prioritised for social housing starting this week, says Associate Housing Minister Tama Potaka. “Giving these whānau a better opportunity to build healthy stable lives for themselves and future generations is an essential part of the Government’s goal of reducing ...7 days ago
- Tribute to Dave O'SullivanRacing Minister Winston Peters has paid tribute to an icon of the industry with the recent passing of Dave O’Sullivan (OBE). “Our sympathies are with the O’Sullivan family with the sad news of Dave O’Sullivan’s recent passing,” Mr Peters says. “His contribution to racing, initially as a jockey and then ...7 days ago
- Speech – Eid al-FitrAssalaamu alaikum, greetings to you all. Eid Mubarak, everyone! I want to extend my warmest wishes to you and everyone celebrating this joyous occasion. It is a pleasure to be here. I have enjoyed Eid celebrations at Parliament before, but this is my first time joining you as the Minister ...1 week ago
- Government saves access to medicinesAssociate Health Minister David Seymour has announced Pharmac’s largest ever budget of $6.294 billion over four years, fixing a $1.774 billion fiscal cliff. “Access to medicines is a crucial part of many Kiwis’ lives. We’ve committed to a budget allocation of $1.774 billion over four years so Kiwis are ...1 week ago
- Pharmac Chair appointedHon Paula Bennett has been appointed as member and chair of the Pharmac board, Associate Health Minister David Seymour announced today. "Pharmac is a critical part of New Zealand's health system and plays a significant role in ensuring that Kiwis have the best possible access to medicines,” says Mr Seymour. ...1 week ago
- Taking action on Fetal Alcohol Spectrum DisorderHundreds of New Zealand families affected by Fetal Alcohol Spectrum Disorder (FASD) will benefit from a new Government focus on prevention and treatment, says Health Minister Dr Shane Reti. “We know FASD is a leading cause of preventable intellectual and neurodevelopmental disability in New Zealand,” Dr Reti says. “Every day, ...1 week ago
- New sports complex opens in KaikoheRegional Development Minister Shane Jones today attended the official opening of Kaikohe’s new $14.7 million sports complex. “The completion of the Kaikohe Multi Sports Complex is a fantastic achievement for the Far North,” Mr Jones says. “This facility not only fulfils a long-held dream for local athletes, but also creates ...1 week ago
- Diplomacy needed more than everForeign Minister Winston Peters’ engagements in Türkiye this week underlined the importance of diplomacy to meet growing global challenges. “Returning to the Gallipoli Peninsula to represent New Zealand at Anzac commemorations was a sombre reminder of the critical importance of diplomacy for de-escalating conflicts and easing tensions,” Mr Peters ...1 week ago
- Anzac Commemorative Address, Buttes New British Cemetery BelgiumAmbassador Millar, Burgemeester, Vandepitte, Excellencies, military representatives, distinguished guests, ladies and gentlemen – good morning and welcome to this sacred Anzac Day dawn service. It is an honour to be here on behalf of the Government and people of New Zealand at Buttes New British Cemetery, Polygon Wood – a deeply ...1 week ago
- Anzac Commemorative Address – NZ National Service, Chunuk BairDistinguished guests - It is an honour to return once again to this site which, as the resting place for so many of our war-dead, has become a sacred place for generations of New Zealanders. Our presence here and at the other special spaces of Gallipoli is made ...2 weeks ago
- Anzac Commemorative Address – Dawn Service, Gallipoli, TürkiyeMai ia tawhiti pamamao, te moana nui a Kiwa, kua tae whakaiti mai matou, ki to koutou papa whenua. No koutou te tapuwae, no matou te tapuwae, kua honoa pumautia. Ko nga toa kua hinga nei, o te Waipounamu, o te Ika a Maui, he okioki tahi me o ...2 weeks ago
- PM announces changes to portfoliosPaul Goldsmith will take on responsibility for the Media and Communications portfolio, while Louise Upston will pick up the Disability Issues portfolio, Prime Minister Christopher Luxon announced today. “Our Government is relentlessly focused on getting New Zealand back on track. As issues change in prominence, I plan to adjust Ministerial ...2 weeks ago
- New catch limits for unique fishery areasRecreational catch limits will be reduced in areas of Fiordland and the Chatham Islands to help keep those fisheries healthy and sustainable, Oceans and Fisheries Minister Shane Jones says. The lower recreational daily catch limits for a range of finfish and shellfish species caught in the Fiordland Marine Area and ...2 weeks ago
- Minister welcomes hydrogen milestoneEnergy Minister Simeon Brown has welcomed an important milestone in New Zealand’s hydrogen future, with the opening of the country’s first network of hydrogen refuelling stations in Wiri. “I want to congratulate the team at Hiringa Energy and its partners K one W one (K1W1), Mitsui & Co New Zealand ...2 weeks ago
- Urgent changes to system through first RMA Amendment BillThe coalition Government is delivering on its commitment to improve resource management laws and give greater certainty to consent applicants, with a Bill to amend the Resource Management Act (RMA) expected to be introduced to Parliament next month. RMA Reform Minister Chris Bishop has today outlined the first RMA Amendment ...2 weeks ago
- What Australia can learn from Latin America when it comes to tackling violence against women
Source: The Conversation (Au and NZ) – By Luis Gómez Romero, Senior Lecturer in Human Rights, Constitutional Law and Legal Theory, University of Wollongong Fifty years ago, Australian feminist Anne Summers denounced “the ideology of sexism” governing over so many women’s lives. Unfortunately, sexism is as lethal today as it ...2 hours ago - A tax on sugary drinks can make us healthier. It’s time for Australia to introduce oneSource: The Conversation (Au and NZ) – By Peter Breadon, Program Director, Health and Aged Care, Grattan Institute Leah Newhouse/Pexels Sugary drinks cause weight gain and increase the risk of a range of diseases, including diabetes. The evidence shows that well-designed taxes can reduce sugary drink sales, cause ...2 hours ago
- As New Zealand CBDs evolve post-pandemic, repurposing old or empty spaces should be on the drawing b...Source: The Conversation (Au and NZ) – By Jose Antonio Lara-Hernandez, Senior Researcher in Architecture, Auckland University of Technology Getty Images The COVID-19 pandemic and the hybrid work patterns it fostered have changed the way we think about office space, and central business districts in general. While fears ...2 hours ago
- Nuclear power makes no sense for Australia – but it’s a useful diversion from real climate actio...Source: The Conversation (Au and NZ) – By Adam Simpson, Senior Lecturer, International Studies, University of South Australia Wlad74, Shutterstock Opposition leader Peter Dutton argues Australia needs nuclear power to achieve net zero emissions by 2050. But nuclear power is not feasible for Australia. It is too slow, too ...2 hours ago
- Australian churches collectively raise billions of dollars a year – why aren’t they taxed?Source: The Conversation (Au and NZ) – By Dale Boccabella, Associate Professor of Taxation Law, UNSW Sydney There’s a good reason your local volunteer-run netball club doesn’t pay tax. In Australia, various nonprofit organisations are exempt from paying income tax, including those that do charitable work, such as churches. ...2 hours ago
- Real comedy, real trauma: how Baby Reindeer and Feel Good are forging a new television genreSource: The Conversation (Au and NZ) – By Marina Deller, Casual Academic, Creative Writing and English Literature, Flinders University Netflix Comedy is opening up spaces for silences to be broken and trauma stories to be told. In 2018, Hannah Gadsby started a revolution with Nanette, asking audiences to rethink ...2 hours ago
- Tense office dynamics draining your soul? Kink can help with that
The workplace can be a minefield of bad comms and passive aggression. Kinksters can help you navigate it. A friend and colleague recently gave me a compliment I loved. They told me I’d always been good at emotional communication and making people feel comfortable. “But I feel like it’s really ...2 hours ago - Old, more polluting ships serving NZ could be a barrier to climate goals
The Climate Change Commission is floating the idea of bringing international shipping into New Zealand's carbon-cutting targets. ...4 hours ago - A week on, the school phone ban is (mostly) winning praiseEven if some students are now just texting on their laptops. Stewart Sowman-Lund writes in this excerpt from The Bulletin, The Spinoff’s morning news round-up. To receive The Bulletin in full each weekday, sign up here. ...4 hours ago
- Could Wellington be the next region to ink a water deal with the government?Councils from Horowhenua, Kāpiti, Wairarapa, the Hutt Valley, Porirua and Wellington City will meet this Friday to work together on a plan for a Greater Wellington region water deal. ...4 hours ago
- Award-Winning Musician Ria Hall Announces Candidacy For Mayor Of Tauranga
Renowned musician, advocate, and proud born and raised daughter of Tauranga, Ria Hall, is announcing her candidacy for Mayor of Tauranga and Pāpāmoa Ward for the upcoming election on July 20th. ...5 hours ago - Teachers don’t want the new histories curriculum to be ‘rebalanced’The new Aotearoa histories curriculum is rich with potential. There’s still work to be done, but the education minister’s criticisms about ‘balance’ miss the mark, argues primary school teacher Jessie Moss. In 2015, Ōtorohanga College students presented to parliament a petition signed by more than 10,000 people calling for a ...6 hours ago
- At last! The kiwi is getting its comeuppance For too long our so-called national bird has maintained its stranglehold on the economy of regional New Zealand. Thanks to the fast track legislation, we will have our revenge. Theories abound on what ails New Zealand’s economy. National leader Chris Luxon has posited that we’re negative, wet, whiny, and inward-looking; ...6 hours ago
- Rent controls are far from being ‘economically illiterate’
Opinion: There are many ways to regulate for rental increases, depending on the market conditions The post Rent controls are far from being ‘economically illiterate’ appeared first on Newsroom. ...6 hours ago - Southland stream life wiped out by single contaminant dumpAn investigation is underway into how freshwater crayfish, trout and thousands of eels were killed when pollution from private land ended up in a healthy stream The post Southland stream life wiped out by single contaminant dump appeared first on Newsroom. ...6 hours ago
- An incident at Glenmark station in CanterburyLate one afternoon in March 1860 a man in a thin green velveteen jacket and a wide-awake hat arrived on foot at a sheep station named Glenmark, about 65 kilometres north of Christchurch. The man was in his mid-fifties but he looked older. Several people who met him that day ...6 hours ago
- An obscure climate accounting decision with billion-dollar consequencesOpinion: For a country that trades on its reputation as a trustworthy international counterpart, we must follow through on our climate commitments – or face serious financial risks The post An obscure climate accounting decision with billion-dollar consequences appeared first on Newsroom. ...6 hours ago
- Officials set aside environmental benefits of waste-to-energy facilityA $350 million waste incinerator is a step closer, but questions marks remain over its environmental benefits The post Officials set aside environmental benefits of waste-to-energy facility appeared first on Newsroom. ...6 hours ago
- Auckland’s decades-old stadium shuffleIf building one of Auckland’s possible waterfront stadiums was funded privately, it would need to hold a sold-out Ed Sherran concert every weekday for 25 years. That’s Rob Hamlin’s finding – he’s a senior marketing lecturer at the University of Otago. “It’s not going to happen; forget about it,” he ...6 hours ago
- Federated Farmers’ support for fast-track bill ‘ambiguous’Fed Farmers’ oral and written submissions on the fast-track bill contain no definitive indication of the group’s support. Board member Mark Hooper clarifies. The post Federated Farmers’ support for fast-track bill ‘ambiguous’ appeared first on Newsroom. ...6 hours ago
- How advertising, not social media, killed traditional journalismComment: The debate over the future relationship between news and social media is bringing us closer to a long-overdue reckoning. Social media isn’t trying to kill journalism, because social media has never really cared about journalism. Social media is resolutely in the attention business. News propels some attention — perhaps ...6 hours ago
- Daily crossword, Monday 6 MayThe post Daily crossword, Monday 6 May appeared first on Newsroom. ...6 hours ago
- Political donations: people power no match for big businessAnalysis: Experts are renewing their calls for a cap on donations as the gap between the left and the right widens The post Political donations: people power no match for big business appeared first on Newsroom. ...6 hours ago
- Newsroom daily quiz, Monday 6 MayLoading…(function(i,s,o,g,r,a,m){var ql=document.querySelectorAll('A,DIV,A[data-quiz],DIV[data-quiz]'); if(ql){if(ql.length){for(var k=0;k<ql.length;k++){ql[k].id='quiz-embed-'+k;ql[k].href="javascript:var i=document.getElementById('quiz-embed-"+k+"');try{qz.startQuiz(i)}catch(e){i.start=1;i.style.cursor='wait';i.style.opacity='0.5'};void(0);"}}};i['QP']=r;i[r]=i[r]||function(){(i[r].q=i[r].q||[]).push(arguments)},i[r].l=1*new Date();a=s.createElement(o),m=s.getElementsByTagName(o)[0];a.async=1;a.src=g;m.parentNode.insertBefore(a,m)})(window,document,'script','https://take.quiz-maker.com/3012/CDN/quiz-embed-v1.js','qp'); Got a good quiz question? Send Newsroom your questions. The post Newsroom daily quiz, Monday 6 May appeared first on Newsroom. ...6 hours ago
- New Kiwi gymnast flips for Olympic dreamFor the past 12 years, Georgia-Rose Brown has balanced on the brink of making an Olympic Games – but always landed gracefully on the wrong side. Reaching the Olympics is a dream the gymnast has harboured since she was a six-year-old; a dream that would dwindle every four years, yet ...6 hours ago
- Students on social work, nursing and teaching placements to get weekly $319.50 means tested Prac Pay...Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra A new Commonwealth Prac Payment will provide students with $319.50 a week when they are on clinical and professional placements. The payment will be means tested and start from July 1 next year, which ...10 hours ago
- Auckland Palestine rally honours Gaza journalists for freedom awardAsia Pacific Report About 500 people honoured Palestinian journalists in the heart of the New Zealand city of Auckland today for their brave coverage of Israel’s War on Gaza, now in its seventh month with almost 35,000 people killed, mostly women and children. Marking the annual May 3 World Press ...12 hours ago
- GCSB foreign spying capability under scrutinyThe Government Communications Security Bureau denies hosting a foreign spying capability flagged by the watchdog, differentiating it from the system recently criticised. ...19 hours ago
- Auckland academics call out university stance over pro-Palestine protestRNZ News A group of academic staff at New Zealand’s largest university have expressed concern at the administration’s move to block a protest encampment that was planned to take place on campus calling for support for the rights of Palestinians. This week, the University of Auckland warned that while it ...22 hours ago
- Auckland's new water plan unveiled by Mayor Wayne Brown and Local Government Minister Simeon Br...The government claims Aucklanders will avoid a projected 25.8 percent water rates increase with the coalition's Local Water Done Well plan. ...22 hours ago
- 'Māori Seabed, For Shore!' – Two decades on from the largest hīkoi in a generationTwenty years has passed since the historic hīkoi against the controversial Foreshore and Seabed Act reached Parliament. ...1 day ago
- An Ode to .. Julie Anne GenterGenterwocky After a hard days marching, Sir Doocey calls in at the Village Tavern For a pint of ale and a pork pie. The grim villagers stare at him. “Do not be travelling on the forest road,” warns a crusty old beak. “And why is that, antique peasant?” Grins Sir ...1 day ago
- National aims high while struggling to take offPolitical conferences after a party returns to power are usually a chance for some healthy, even unhealthy backslapping. Yet National Party president Sylvia Wood’s address to its mainland representatives on Saturday hardly contained the unalloyed delight that one might have expected following National’s escape from the wilderness of opposition. Yes, ...1 day ago
- Real journalists can lead the war against deepfakesComment: Almost half the world is voting in national elections this year and artificial intelligence is the elephant in the room. There are genuine fears AI-generated or AI-edited deepfakes will potentially manipulate election outcomes not just in the US and UK, but critically in countries such as India. For that ...1 day ago
- Meet the cast of Married at First Sight NZ for 2024Ahead of the reality franchise’s return to New Zealand, allow us to introduce the eight brides and grooms. Chuck on a veil and tie back your man bun, because it’s time to say “I do” to a new season of Married at First Sight NZ. The reality TV “social experiment” ...1 day ago
- The good news is the government plans to cancel $3 billion in student debt. The bad news is indexati...Source: The Conversation (Au and NZ) – By Andrew Norton, Professor in the Practice of Higher Education Policy, Australian National University Every year on June 1, student debt in Australia is indexed to inflation. In 2023, high inflation pushed the indexation rate to 7.1%, the highest since 1990. This ...1 day ago
- Albanese government to wipe $3 billion in student debt, benefitting three million peopleSource: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra Changes in the May 14 budget will cut the student debt of more than three million people, wiping more than $3 billion from what people owe. The government will cap the HELP indexation rate ...1 day ago
- ICC demands end to threats against court amid Gaza war probeAsia Pacific Report The prosecutor’s office at the International Criminal Court (ICC) has appealed for an end to what it calls intimidation of its staff, saying such threats could constitute an offence against the “administration of justice” by the world’s permanent war crimes court. The Hague-based office of ICC Prosecutor ...1 day ago
- New Caledonia’s women sit-in to support smeared Kanak journalistBy Patrick Decloitre, RNZ Pacific correspondent French Pacific desk A women’s union in New Caledonia has staged a sit-in protest this week to support senior Kanak indigenous journalist Thérèse Waia, who works for public broadcaster Nouvelle-Calédonie la Première, after a smear attack by critics. The peaceful demonstration was held on ...2 days ago
- New Zealand signs deal with Germany on Antarctica cooperationThe memorandum of understanding with Germany's Alfred Wegener Institute is expected to foster cooperation between the two polar science bodies. ...2 days ago
- NZ food safety agency monitoring Indian spice mix recallsNew Zealand Food Safety is monitoring overseas recalls of Indian packaged spice products manufactured by MDH and Everest due to concerns over a cancer-causing pesticide. ...2 days ago
- Fiji’s media freedom ranking jumps, Papua New Guinea’s plummetsBy Stephen Wright and Stefan Armbruster of BenarNews Fiji’s ranking in a global press freedom index has jumped into the top tier of countries with free or mostly free media after its government last year repealed a draconian law that threatened journalists with prison for doing their jobs. Fiji’s improvement ...2 days ago
- The Boy in the Water: ‘I just can’t do this anymore’We might be in Invercargill but all anyone can talk about is Gore. Specifically, Salford Street. That’s where three-year-old Lachlan Jones lived, south of the centre of town, between the A&P Showgrounds and the Mataura River. Roughly 1.2 km away from the single level home he lived in with his ...2 days ago
- 'Data is the new oil': Call to save jobs of data security guardsNew Zealanders' data is at risk with the government's "unintelligent" proposal to cut information security jobs, the Privacy Foundation says. ...2 days ago
- Liam Hewson seeks answers in natureKeen hiker and second-year MSc student Liam Hewson wears two hats when he’s in the great outdoors. “The scientist in me appreciates nature and goes, ‘Oh, there’s that thing and there’s another thing,’ but then the tramper and the outdoorsy person in me thinks, ‘Cool bush.’” Born and bred in ...2 days ago
- The Secret Diary of .. Coalition Sheriff LuxonMONDAY I lined up the latest round of civil servants from city hall against the wall, and signalled for the firing squad to drop their rifles. I stepped up onto a wooden crate to look at the office workers in the eye. But that didn’t feel right, so I found ...2 days ago
- Dan Carter won’t stop kickingAfter a long and illustrious career as a goal kicker, Dan Carter’s favourite way to unwind is… kicking goals. Why can’t he get enough of it? And what it’s like to watch him do it for an hour straight? A semicircle of people wielding cameras and phones has formed in ...2 days ago
- ‘Everybody rolls their eyes’: Dame Susan Devoy’s guilty TV pleasureDame Susan Devoy takes us through her life in television, including late night ER debriefs, her proudest CTI moment and the show she watches in secret. Quite aside from her four world champion squash titles, Dame Susan Devoy will likely go down in history as one of the best Celebrity ...2 days ago
- Dunedin’s secondhand bookshops, ranked and reviewedHera Lindsay Bird reveals the best places in Ōtepoti to score more for your apocalypse-prep book hoard. Sometimes I get the feeling I’ve been killed in a car crash, and this second half of my life is just the brain unspooling itself, like one of those episodes of a hospital ...2 days ago
- Review: High Country is the ideal crime drama for a cold winter nightThreeNow’s new murder mystery series takes us on a dark, damp journey into the Australian wilderness. This is an excerpt from our weekly pop culture newsletter Rec Room. Sign up here. High Country is ThreeNow’s new Australian eight-part crime drama, set in a remote part of the Victorian highlands. It tells ...2 days ago
- Welcome to The WeekendIntroducing a new way to read The Spinoff every weekend. After nearly 10 years of being an online magazine, we’re finally embracing the weekend liftout. Despite our best efforts to convince you otherwise, writers and editors at The Spinoff don’t work weekend. It is through the sheer power of technology ...2 days ago
- Tips and tricks for when your therapist looks like your dadTip one: let yourself be nurtured by this big old man. Tip two: don’t ask him to adopt you. So, you’ve arrived at your first session with a new therapist. He tells you to make yourself comfortable and you opt for the tweed armchair, hoping it makes you look like ...2 days ago
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Every feel as if the elite are giving us the bird !!!!
Things like QE 1,2 & 3 were to save what ? The economy or divert from public funds to a elite few.
http://www.theage.com.au/national/1000-jobs-gone-1bn-lost-executives-get-3m-20110823-1j8ga.html
Also this – Pity we have issues with teaching morality now.
And for the puritians I know above should be corrected to “an elite” edit function failed me !! 🙂
http://articles.moneycentral.msn.com/Investing/CompanyFocus/ceos-cut-more-jobs-make-more-money.aspx
What’s the difference between normalised and audited profits?
“Normalized profits” presumably exclude profits (or losses) resulting from what are deemed to be one-off events.
Explain please….one off events are abnormal below line events that are reported and validated by auditors like lions gain on the failed property deal on their Newmarket site as the deposit becomes profit as they still have the asset.
Sounds like operational profit before the real world kicks in and halves it with the financing and write downs but I’ve never heard that term before….normalized, maybe more canny bargaining on Reynolds part…..ha ha ha all the way back home suckers.
Done some surfing FFS normalized is effectively adjusting it to account for economic cycles…..cycles as volatile as a teenagers mood, which assume what goes down comes back up…..hands up who think were all going back to the days of old.
Adjusting a measurable profit ( you know based on actual revenue and costs….remember those) for this isn’t accounting it’s yet another device to make black white and magic up profit where it didn’t exist….enron/ world com etc.
See how far you get taking your normalized personal situation to the bank for a mortgage extension.
Yep: Including the newly self annointed hero of the ‘rich should pay more tax’ brigade: http://www.newsmax.com/InsideCover/buffett-irs-back-taxes/2011/09/01/id/409520
funny but there’s more money to be made if the rich pay more tax. Its
reminds me of the highwayman who is hired by the state to keep the
roads free to travel unmolested. Taxing the wealthy more will make
the capitalist roads free to travel down unmolested.
What makes me laugh about that article is how quickly the wealthy in America swung into action to discredit this guy. They completely ignore the fact that the reason it is so easy to find this sort of dirt on a company or individual avoiding taxes is because there are a large number of them who think it is their responsability to avoid paying tax. When it comes to running a buisness if the CEO isn’t doing that then he won’t be the CEO for very long.
These people are so deluded about it they think it makes them look good to say “hay look he’s trying to not pay tax so why should I?”
These are not the people who are the future of society.
And in related news, Goldman Sachs provided its clients (or some of them) with info and strategies to cash in on currency crises. Bear in mind that Goldman Sachs works with some of the governments whose economies its strategies would impact on.
http://www.independent.co.uk/news/business/news/goldmans-memo-on-how-to-cash-in-on-euro-crisis-2347796.html
So firstly, our governments help these bastards in spite of what we were saying.
Secondly, our governments rifle our futures to pay for that help.
Thirdly, those bastards now invent further dodgy dealings to put more pressure on economies and by extention our future prospects
Humans began to abandon the hunter-gatherer lifestyle around 10,000 years ago.
One of the immediate effects ‘civilisation’ was the establishment of hierachical societies in which the fruits of the labour of many were transferred to the few at the top, who were generally sociopaths who had the weapons and decided what the laws would be.
Little has changed over the past 10,000 years except that civilisation has caused massive population overshoot and has degraded the Earth to the point that civilisation will not be maintained for much longer.
Over the next few years the monetary system will melt down, industrialisation will grind to a halt, and those at the top who are currently managing to steal more than their fair share will either commit suicide or be lynched, or will establish overtly fascist feudal states.
We will have a better idea where things are headed and how quickly at the end of the year, when the markets will have collapsed a little more and ordinary people all around the world will be suffering a bit more.
Of course it’s caused population overshoot. The more people there are to exploit the more the psychopaths can appropriate from them.
Well, I’m sure the first option is out, the second option will probably prevail at some point in the future but the third is already in progress. Selling of state assets and bailouts of financial institutions is proof of that.
Hi AFKTT
In support of what you say is this http://www.countercurrents.org article explaining the gravity of the oil supply terminal decline set to happen from 2012 onwards.
Apologies to moderator such an important comment have copied it in total:
[deleted]
[lprent: Has bugger all to do with the post and was an excessive cut’n’paste. I’d have left the link – but you didn’t provide one. ]
Where do I claim my syndication fee? I am sure I posted this in open mike on Thursday?